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Following an uncomfortable struggle with a stubborn set of Tandberg ASA (OSE: TAA ) shareholders, Cisco Systems Inc. (Nasdaq: CSCO ) announced Friday morning it "has now received acceptances for or purchased shares representing more than 90% of the shares" in the Norwegian conferencing systems vendor, and that it will proceed with its $3.4 billion acquisition.
Get the latest news alerts: Follow LTW at Twitter. SAN JOSE, Calif. - Cisco Systems Inc. (Nasdaq: CSCO ) says it is waiving its condition that 90 percent of shareholders of Norwegian videoconferencing equipment firm Tandberg ASA back its $3.4 billion takeover offer and will close the deal as soon as possible.
The maker of the popular Flip video recorder is part of Cisco Systems, and Cisco Systems would like you to know that.
Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company.
Cisco Systems says it is waiving its condition that 90 percent of shareholders of Norwegian videoconferencing equipment firm Tandberg back its $3.4 billion takeover offer and will close the deal as soon as possible.
Dec. 4 (Bloomberg) -- Cisco Systems Inc. , the world’s largest maker of networking equipment, said it has about 91 percent of Tandberg ASA shares, allowing it to carry through its 19 billion-kroner ($3.38 billion) bid for the Norwegian company.
Dec. 4 (Bloomberg) -- Cisco Systems Inc. , the world’s largest maker of networking equipment, said it won about 89 percent of shares for its 19 billion-kroner ($3.38 billion) bid for Tandberg ASA and plans to complete the acquisition.
SAN JOSE, Calif. - Cisco Systems now says it has control of enough Tandberg ASA shares to take over the Norwegian company. Cisco had said Thursday that stockholders representing only 89 percent of the shares had accepted its $3.4 billion bid — just shy of the 90 percent required to close the deal.
Cisco said Friday that its subsidiary Cisco Systems Netherlands Holdings (" Cisco") has now received acceptances for or purchased shares representing more than 90% of the shares in Tandberg.
Cisco Systems says it is waiving its condition that 90 percent of shareholders of Norwegian videoconferencing equipment firm Tandberg ASA back its $3.
The U.S. government has identified flaws in equipment from four companies, including Cisco Systems Inc , that hackers can exploit to break into corporate computer networks.
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